Can I use naira on Binance in Nigeria?

No. Binance discontinued naira deposits and withdrawals and removed naira peer to peer pairs in early 2024, converting remaining naira balances to USDT. There is no supported way to fund or cash out a Binance account in naira. Confirm the current position directly before acting, as of 8 June 2026.

Is crypto legal in Nigeria?

Yes. Holding and trading crypto is legal in Nigeria, supervised by the Securities and Exchange Commission under the Investments and Securities Act 2025. The issue on this page is Binance availability and its naira services, not the legality of crypto itself.

Why is Binance in a dispute with Nigeria?

Nigerian authorities raised concerns about the platform's role in naira volatility and brought claims over alleged unpaid taxes and economic losses, and two Binance executives were detained in 2024. Binance reported pursuing an out of court settlement in 2026. This is factual background, not legal advice, and it can change.

What can Nigerian residents use instead?

Residents typically use platforms that are genuinely available in Nigeria and that have engaged with the SEC, including those granted Approval in Principle such as Busha and Quidax. See the Nigeria best exchanges page. This is information, not a recommendation.

Is Binance available in Nigeria?

Q: Is Binance available in Nigeria?

As of 8 June 2026 Binance does not offer naira deposits, withdrawals, or naira peer to peer trading to Nigerian residents, having removed those services in early 2024, and the website is reported as blocked locally. An account can still function for crypto to crypto activity, but there is no naira on ramp or off ramp. The regulator is the Securities and Exchange Commission.

Available for crypto only, no naira services

As of 8 June 2026 Binance no longer offers naira deposits, withdrawals, or naira peer to peer trading to Nigerian residents, having removed those services in early 2024, and the Binance website is reported as blocked locally. An account can still function for crypto to crypto activity, but there is no naira on ramp or off ramp, and Binance is in a continuing tax dispute with the Nigerian authorities. The regulator is the Securities and Exchange Commission (SEC).

      As of: 8 June 2026
      Last reviewed: 8 June 2026
    

Information, not advice. This is general information, not legal, tax, or financial advice. Verify the current rules with a qualified local professional and the official regulator before acting.

How we checked this. We set this status by reading the platform's own terms of use and country eligibility, and the public register kept by the named regulator, then dated the result. Availability can change, so confirm directly with the platform and the regulator before acting. As of 26 June 2026.

Quick answer

As of 8 June 2026 Binance is only partly usable for Nigerian residents. Binance removed naira peer to peer pairs and discontinued naira deposits and withdrawals in early 2024, converting remaining naira balances to USDT, and the Binance website has been reported as blocked for Nigerian users. A Nigerian account can still be used for crypto to crypto activity and to withdraw crypto to an external wallet, but there is no naira on ramp or off ramp. Binance is also in a continuing tax dispute with the Nigerian authorities, where it has reported pursuing an out of court settlement in 2026. Crypto remains legal to hold and trade in Nigeria under the Securities and Exchange Commission (SEC). Because there is no compliant naira route, this page does not link an affiliate for Binance and points to platforms that are genuinely available.

Availability

Availability for Nigerian residents

As of 8 June 2026 Binance does not offer naira fiat services to residents of Nigeria. In February and March 2024 Binance removed naira peer to peer trading pairs and discontinued naira deposits and withdrawals, converting remaining naira balances to USDT, and the Binance website has been reported as blocked for users in Nigeria. A Nigerian account can still be used for crypto to crypto trading and to move crypto to an external wallet, but there is no supported way to fund or cash out in naira through Binance.

Nigeria's lead regulator for digital assets is the Securities and Exchange Commission (SEC). Under the Investments and Securities Act 2025, which was signed on 25 March 2025 and recognises digital assets as securities, providers serving Nigerian users are expected to register with the SEC. Binance is not among the platforms granted Approval in Principle under the SEC framework, and it remains in a continuing dispute with the Nigerian authorities (as of 8 June 2026).

The dispute

The tax and enforcement background

Binance has faced significant enforcement pressure in Nigeria. In 2024 two Binance executives were detained amid an inquiry into the platform's role in naira volatility, and in 2025 the Nigerian authorities brought claims against Binance over alleged unpaid taxes and economic losses. In early 2026 Binance reported that it was pursuing an out of court settlement with the Nigerian authorities over the tax claims, and court proceedings were continuing.

These matters concern Binance as a company and the platform's past naira operations. They are described here as factual background, not as legal advice, and the situation can change. Confirm the current position directly with the Securities and Exchange Commission and with Binance before acting (as of 8 June 2026).

How it works

Access and naira on ramps

Because Binance has removed naira services and the website is reported as blocked locally, there is no supported route for a Nigerian user to fund or cash out a Binance account in naira through bank transfer, OPay, or PalmPay. Attempting to work around a platform's country restrictions can breach its terms and is not something this page encourages.

Nigerian residents who want to buy or sell crypto compliantly generally turn to platforms that are genuinely available in Nigeria and that have engaged with the Securities and Exchange Commission, including those granted Approval in Principle such as Busha and Quidax. For how gains are taxed, see the Nigeria tax section below.

Tax

How crypto is taxed in Nigeria

Nigeria brings crypto within its tax net. The tax authority is the Federal Inland Revenue Service (FIRS), now operating as the Nigeria Revenue Service, and gains on disposals of digital assets can fall within capital gains or income tax depending on the circumstances, following the country's recent tax reforms. The exact treatment depends on your personal situation, so confirm the current rules with the tax authority or a qualified adviser. See the Nigeria crypto tax page for a fuller explanation. This is general information, not tax advice (as of 8 June 2026).

Sourcing

Regulator and sources

The Nigerian regulator for digital assets is the Securities and Exchange Commission (SEC). The position below is stated as of 8 June 2026 and should be confirmed on the primary sources.

Securities and Exchange Commission (SEC) Nigeria, rules on digital assets and the Accelerated Regulatory Incubation Program.
Investments and Securities Act 2025, recognising digital assets as securities, signed 25 March 2025.
Federal Inland Revenue Service (FIRS), now the Nigeria Revenue Service, on the taxation of digital asset disposals.
Binance announcements that it removed naira peer to peer pairs and discontinued naira deposit and withdrawal services in early 2024.
Reporting on the Nigerian tax and enforcement proceedings against Binance and the reported pursuit of an out of court settlement in 2026.

Available alternatives

Binance does not offer a compliant naira route for Nigerian residents, so we do not link it here. These pages cover the exchanges that are genuinely available in Nigeria, including platforms that have engaged with the Securities and Exchange Commission framework.

Best exchanges in Nigeria→Nigeria crypto rules→Browse all exchanges→

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Rules change frequently. Exchange availability in Nigeria can change at short notice, and a platform can add or remove naira services or restrict access with little warning. The position on this page is dated 8 June 2026. Confirm the current status with the Securities and Exchange Commission and the platform before you act.

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Written and reviewed by the wherelegalcrypto editorial team, Morten Andersen and Fredrik Filipsson. Each status is checked against the named regulator and dated. See our editorial standards.